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ABU DHABI / WAM
A total of AED18.7 billion of dividends have been proposed by as many as 18 listed UAE national banks for 2018, 12.2 percent up from AED16.66 billion in 2017.
The growth in dividend distribution reflects robust solvency position of UAE banking sector, reckoned among Mena’s most resilient with estimated AED2.9 trillion of assets by 2018-end. The lucrative dividends follow the growth in last year’s net profits to AED42 billion.